Efforts to Legalize Psychedelics is Quickly Picking Up Momentum

Efforts to Legalize Psychedelics is Quickly Picking Up Momentum

Denver, Oakland, and Santa Cruz voted to decriminalize mushrooms. Washington, D.C. just took a major step toward adding legalization to the Nov. 2020 ballot. Chicago city leaders passed a resolution supporting scientific and medicinal research, with a goal of decriminalization. Vermont lawmakers filed a bill to decriminalize it, as well. Even Oregon is pushing to legalize psilocybin mushrooms for therapeutic purposes.

All thanks to reports that show psychedelics have therapeutic benefits. For example, researchers at New York University found psilocybin mushrooms caused a “rapid and sustained” reduction in anxiety and depression in patients with cancer, as reported by the Financial Post. Researchers from the University of California David found that micro-dosing with psychedelic drugs for a prolonged period of time showed promise. “Our study demonstrates that psychedelics can produce beneficial behavioral effects without drastically altering perception, which is a critical step towards producing viable medicines inspired by these compounds,” said David Olson of UC Davis, as quoted by Esquire.

A report titled Psychedelic-Assisted Psychotherapy: A Paradigm Shift in Psychiatric Research and Development found that such treatments have ““positive long-term mental health consequences, rather than daily neurochemical corrections in brain dysfunctions,” meaning they may help treat conditions better than pharmaceuticals, as noted by Leafly.

Some of the issues that psychedelics may be able to assist with include substance dependency, PTSD, depression, anxiety, obsessive compulsive disorder, and chronic pain. There’s so much interest, COMPASS Pathways just raised $80 million to push its psilocybin therapy into Phase 3 development to help folks with treatment-resistant depression. The company received FDA Breakthrough Therapy designation for its program of psilocybin therapy in treatment-resistant depression in 2018, as highlighted in a recent press release. As the growth story unfolds, some of the companies to keep an eye on include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), GW Pharmaceuticals (NASDAQ:GWPH), Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM), Mind Medicine Inc. (OTC:MMEDF) , and Johnson & Johnson (NYSE:JNJ).

The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS : The Yield Growth Corp. announced it has changed the name of its majority owned subsidiary to NeonMind Biosciences Inc. from Flourish Mushroom Labs Inc., a company engaged in research and development of potentially therapeutic uses of psychedelic mushrooms and development of functional mushroom products.

NeonMind was inspired by the potential therapeutic effects of psychedelic mushrooms, which have been shown to increase sensory processing and brain connectivity characterized by increased synchronization of sensory brain regions, as found in a recent study called “Psilocybin induces time-dependent changes in global functional connectivity”, according to psypost.org.

The NeonMind name is meant to reflect that connectedness, by bringing together “Neon,” representing brilliance, brightness, and radiance with “Mind,” as our intellect, consciousness, power and soul.

NeonMind has filed a U.S. provisional patent application to protect intellectual property relating to the use of psychedelic mushrooms to activate the mind to achieve better body health, including:

– losing weight;
– reducing food cravings;
– counteracting compulsive overeating;
– improving quality of diet by empowering the mind to select lower calorie foods;
– increasing metabolism;
– treating diabetes;
– regulating blood glucose; and
– reducing susceptibility to cardiovascular disease, high blood pressure, diabetes mellitus and other illnesses associated with obesity

The company is developing plans for clinical trials to further its research into potentially therapeutic benefits of compounds found in psychedelic mushrooms.

The company also intends to launch functional mushroom based products under the NeonMind brand, and has designed initial packaging concepts and filed trademark applications for NeonMind in Canada and the U.S. It aims to be a leader in the fast-growing functional foods market by offering high-quality mushroom-infused products that support immune, cognitive, memory and other brain functions.

Other related developments from around the markets include:

GW Pharmaceuticals (NASDAQ:GWPH), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, will announce on May 11th, 2020 its financial results for the first quarter ending March 31st, 2020. GW will also host a conference call the same day at 4:30 p.m. ET. Conference call information will be provided in the financial results press release. A replay of the call will also be available through the Company’s website.

Champignon Brands Inc. (OTC:SHRMF)(CSE:SHRM) announced its placement in an editorial published by NetworkNewsWire. “The expansion of the functional food and drinks sector has created a new opportunity. While cannabis and CBD have taken these consumables beyond the traditional active ingredients of alcohol and caffeine, this diversification of the market has opened up consumers to new possibilities. Among those possibilities is the use of natural ingredients found in mushrooms.”

Mind Medicine Inc. (OTC:MMEDF) in collaboration with University Hospital Basel’s Liechti Laboratory , has discovered and filed a patent application in the United States (preserving all worldwide rights) for a neutralizer technology intended to shorten and stop the effects of an LSD trip during a therapy session. This discovery, when further developed, may act as the ‘off-switch’ to an LSD trip. MindMed is the leading psychedelic pharmaceutical company and the Liechti Laboratory is the leading research center focused on the pharmacology of psychedelic substances. This is the latest discovery based on surprising experimental results from work and collaboration conducted at the lab. The invention may help reduce the acute effects of a psychedelic drug and help shorten the hallucinogenic effects when required by a patient or medical professional. One of the many fears and stigmas associated with psychedelics are rare occurrences of ‘bad trips.’ MindMed is seeking to equip therapists and other medical professionals with the resources and technology to better control the effects of dosing LSD in a clinical setting to improve the patient experience and patient outcomes. This advancement paves the way for greater therapeutic applications of LSD and shorter-acting psychedelic therapy treatments. MindMed believes this technology, when further developed, may one day be marketed as an added feature to shorten a therapy session and stop a session if the patient is not comfortable.

Johnson & Johnson (NYSE:JNJ) announced that U.S. District Judge Freda L. Wolfson , chief judge of the District of New Jersey, who is […]

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